You can get your settlement services anywhere. So why should you use Cogent?
Settlement services are a crucial element of the loan process. Mistakes, missed deadlines and miscommunication can make a loan fall through in a second, wasting all of the manpower and resources your company has put into making that profit.
Despite the importance of this process, the details and processing of these documents is left to processors who often don’t understand the lending lifecycle beyond their small part. If your processors aren’t detailed oriented and task focused, your business is stuck in a cycle of finding errors, solving problems and chasing down details just to close loans on time.
While your business is wasting all of this time and effort on a process that should be simple and efficient, your resources are consistently being diverted from growing your business and bringing in more profit streams.
If you could change this process, adding efficiency, accuracy and intelligence without adding expensive software, personnel or other internal resources, why wouldn’t you?
If you could get your sales people off of the phone and refocus them on bringing in new business, why wouldn’t you?
If you could increase your bottom line and remove the glass ceiling to your profitability just by changing your settlement services provider, why wouldn’t you?
As complex a scenario as settlement services management presents, the solution is surprisingly simple. Mortgage companies can automate it with a system that drives workflow, updates docs and enables both macro reporting and micro management. Give LOs and processors an automated settlement services management tool that starts with the transfer of Fannie 3.2 data, allows them to submit a request for all needed docs with minimal keystrokes, invites all loan file participants to interact with the system, and tracks every minute detail, including imaged documents.
Within days of implementation, productivity improvements and cost reductions will be measureable. Doing so will allow both the loan officer and processor to elevate their business building contributions, and will further simplify in house operations for upper management.
Utilizing a settlement services provider with an automated services management platform can deliver Fortune 500 grade process management, dashboard visibility to workflow and key performance indicators, and reports that make compliance audits manageable, as well as demonstrable. Regulatory hassles are minimized when settlement services management reports are comprehensive, up-to-date, and accessible only to authorized users.
Quite simply, your settlement services do matter. If you could improve your business performance just by choosing Cogent, why wouldn’t you?
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